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Uber, Yandex ride services can merge in Russia, regulator FAS rules

The firms aim to close the deal in January 2018, after the New Year holidays in Russia

Reuters  |  Moscow 

Uber and Yandex's ride-sharing businesses can merge in Russia, anti-monopoly regulator FAS ruled on Friday but stipulated that the combined company not bar drivers from working for competitors. Uber and Yandex, often referred to as the "Google of Russia", announced plans in July to combine operations in 127 cities in Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan. San Francisco-based Uber has agreed to invest $225 million while Yandex will contribute $100 million to a new joint company in which Yandex will own 59.3 per cent. The two companies must ...

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First Published: Fri, November 24 2017. 17:25 IST